EU funds can generate 93,000 jobs in the tourism sector

The tourism sector could create 93,000 new jobs thanks to Next Generation funds, as long as it received funding from the European Recovery and Resilience Mechanism in a percentage equivalent to its weight in the national GDP, around 12.4%.

According to a study by the Tourism Commission of the Spanish Chamber of Commerce, an investment of Next Generation EU funds for an amount of 8,621 million euros, destined to the modernization and improvement of the Spanish tourism industry, would have a multiplier effect on GDP and employment due to the drag effect that tourism has on other economic activities Thus, for every 100 jobs directly generated by investment in the tourism sector, around 161 additional jobs would be created, always according to the study. For every 100 euros allocated to the modernization of the sector, the value of the economy’s production would increase by an additional 72 euros, while for every 100 euros of gross added value derived directly from these investments, an additional 105 euros would be created.

The analysis carried out by the Research Service of the Chamber of Spain confirms that tourism constitutes one of the main engines of the Spanish economy, not only because of its direct contribution to GDP or job creation, but also because of its stimulating effect on other sectors. productive. Only food and beverages owe 10.5% of their total production to tourism. This percentage rises to 11% in the case of energy, and reaches up to 50% in activities such as sports and recreational services, and accommodation, food and beverage services.. Regarding employment, 11.7% of jobs in the security services sector (administrative and for buildings = depends on tourism activity. In the case of retail trade, 5.8% of employment in the sector is It is due to tourist activity In leisure and accommodation services, food and beverages, around 50% of jobs come from tourism.

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